Business News

On November 10, BW Industrial Development JSC started construction on Vinh Loc 2, a double-story warehouse in the Mekong Delta province of Long An, its ninth project this year. The facility is set to be completed by the end of 2024 within Vinh Loc 2 Industrial Park (IP).

Lending to real estate developers had increased by over 6% in the year to September, while outstanding loans to real estate trading had surged more than 20%. The State Bank of Vietnam (SBV) announced this information prior to the commencement of a webinar on the implementation of the prime minister’s official dispatch to remove obstacles in the real estate market, which was held yesterday.

A recent report from the Ministry of Construction, which used data from the State Bank of Vietnam (SBV), said that different segments of the real estate sector saw their outstanding loans soaring in August. These segments include housing development, office space, industrial park, restaurant and hotel, and home repair.

For 2023, Quang Ninh province is focused on improving investment attraction efficiency and people’s life quality. In particular, the goal of attracting foreign direct investment (FDI) capital into industrial zones (IZs) is set to reach at least $1 billion, with priorities in luring financiers from countries and territories such as Japan, South Korea, China, and the EU, among others, to ensure the socioeconomic development consistent with the province’s potential.

According to CBRE Vietnam, a real estate service provider, the two office buildings, which are of Grade A, are located in a convenient location close to the central area and obtain green certificates. It signals that new office buildings with high standards in favourable locations still attract the attention of businesses, especially multinational companies, CBRE said, adding that due to new supply, the total floor space of offices in the city has reached approximately 1.6 million sq.m.

Speaking at a forum late last week, Nguyễn Văn Đính, chairman of the Việt Nam Real Estate Brokers Association, said the market would continue to struggle with limited access to capital, legal bottlenecks and companies’ inability to redeem bonds.

Ha Nam - Industrial parks in the northern province of Ha Nam have attracted 24 new projects so far this year, including 15 foreign direct investment (FDI) projects worth 176 million USD, according to Head of the Ha Nam Industrial Parks Management Board Tran Van Kien.

Increasing emphasis on integrating innovation hubs into industrial parks is signifying a fresh direction in collaborative initiatives aimed at enhancing Vietnam’s industrial advancement. Vietnam’s Becamex IDC Corporation and Singapore’s Sembcorp, two pivotal stakeholders of the Vietnam-Singapore Industrial Park (VSIP), has unveiled the Vietnam-Singapore Innovation Centre in the southern province of Binh Duong.